The Hindu Business Line : Wednesday, August 03, 2005

Water storage level 25 pc higher than average in a decade — Oil seeds, rice coverage still lagging behind
THANKS to the excess or normal rainfall this monsoon in 29 of the 36 meteorological sub-divisions of the country, the water storage level in the 76 main reservoirs in the country is 25 per cent more than the average level recorded in the last 10 ... More

New low-pressure area advanced by a day
MONDAY'S well-marked `low' over central Madhya Pradesh has weakened into a low-pressure area over northwest Madhya Pradesh and adjoining east Rajasthan, but the pace at which it has spun laterally across the mainland has surprised weathermen. ... More

NON-CONVENTIONAL ENERGY

2 more Vizag sugar factories plan to start co-generation
TWO more sugar factories in Visakhapatnam district - Tummapala and Tandava - are planning to take up co-generation with the assistance of the Non-Conventional Energy Development Corporation of Andhra Pradesh Ltd (NEDCAP), according to Mr ... More

ECONOMY

Supplementary demand for grants placed in LS
THE first batch of supplementary demands for grants for the current fiscal (2005-06), entailing a net cash outgo of Rs 6,818.56 crore, has been placed in the Lok Sabha today by the Finance Minister, Mr P. Chidambaram. These supplementary ... More

`Govt keen to continue fiscal consolidation efforts'
THE Government on Tuesday said that despite several odds, it was going ahead with efforts towards fiscal consolidation on the back of strength demonstrated by the economy. "No fiscal correction has been contemplated in the Budget for 2005-06 ... More

HEALTH

Youth rescued from rare cancer caused by prevalent bacteria
DOCTORS at a city hospital undertook a probe akin to what scientists at NASA do to explore a cosmic body. This was to ascertain why the stomach of a 28-year-old youth had shrunk to the size of a newborn. They sent a tiny capsule with a camera ... More

INFRASTRUCTURE

Talks on for Rs 2,000-cr DFID aid for AP
THE State Government is negotiating for a Rs 2,000-crore aid from the Department for International Development (DFID), UK, to take up development works across sectors. The Finance Minister, Mr K. Rosaiah, today held discussions with the DFID ... More

PSU

CAG report faults Bengal power, fisheries PSUs
THE report of the Comptroller and Auditor General (CAG) of India for the year ended March 31, 2004 has criticised the functioning of several West Bengal public sector units. It has been particularly harsh on companies and agencies in the power ... More

PETROLEUM

Under-recoveries by oil cos may exceed Rs 40,000 cr: Aiyar
IF the current trend of huge under-recoveries leading to losses suffered by the oil companies continues, the under-recoveries for the year 2005-06 are likely to exceed Rs 40,000 crore, the Petroleum Minister, Mr Mani Shankar Aiyar, has said. ... More

`ONGC, GAIL, Reliance allowed to market LPG'
THE Petroleum Minister, Mr Mani Shankar Aiyar, informed the Rajya Sabha on Tuesday, that in addition to the public sector oil marketing companies IOC, BPCL, HPCL and IBP, the Government has also authorised Oil and Natural Gas Corporation, GAIL ... More

Iranian team to discuss gas pipeline project today
A HIGH-LEVEL Iranian delegation is meeting its Indian counterparts on Wednesday to take forward discussions on the over $4-billion Iran-Pakistan-India gas pipeline project. The project has been facing some uncertainty because of the US ... More

PHARMACEUTICALS

Prices of almost all life-saving drugs unchanged: Paswan
PUTTING to rest concerns about steep increase in prices of essential drugs, the Chemicals and Fertilisers Minister, Mr Ram Vilas Paswan, today told the Lok Sabha that prices of most of the life-saving drugs have remained unchanged. In a ... More

TAXATION

Govt issues instructions on service tax changes
THE Government has issued detailed instructions explaining the scope of new services, extended scope of existing taxable services and other legislative changes made in the Finance Act, 2005. An official release said that the objective is to ... More

`Corporate India must see tax as board level issue'
TAX matters should get a full voice in the boardrooms of Corporate India as it is now a big business issue and is on the radar screen of investors and analysts besides government and potential investors, a tax expert has said. "It (tax) should ... More

EDUCATION

Move to streamline technical education in AP
THE State Government has embarked on a process to further streamline the technical education system, including introduction of crash courses for surveyors in the polytechnics. The Chief Minister, Dr Y.S. Rajasekhara Reddy, while reviewing the ... More

British education initiative
THIRUVANANTHAPURAM: The British Council will launch a new education initiative in India by the end of the year, said Mr Rod Pryde, Director-India and Sri Lanka, British Council. Speaking to newspersons in the city, he said that the ... More

REAL ESTATE & CONSTRUCTION

HSBC to sell prime properties through e-auction
IT may well be the first time in the country that prime residential properties are being sold through an electronic auction. The seller — the Indian subsidiary of the Hongkong and Shanghai Banking Corporation Ltd (HSBC), which has put seven ... More

KNITWEAR & HOSIERY

Setting up effluent plants is Tirupur units' new dilemma
THE Madras High Court's permission to allow 490-odd dyeing/bleaching units in Tirupur to resume work on their complying with the Court ruling on part payment for installing `zero effluent discharge' equipment may have brought a breather for the ... More

DISINVESTMENT

Divestment's good economics, says Chidambaram
THE Finance Minister, Mr P. Chidambaram, on Tuesday strongly defended the move toward disinvesting Government holding in public sector undertakings, and said that it was "good economics" on the part of the Centre to cash in on part of its holding ... More

SOCIAL WELFARE

NGO fund for rehabilitating tribals hit by Posco project
IN an attempt to bring some respite to the 4,000 tribal families who could be displaced due to the Posco steel project in Orissa, International Watch Organization, based in the US and India, has set up a $5 million (about Rs 22 crore) Tribal ... More

EVENTS

PM calls for strengthening knowledge base
THE Prime Minister, Dr Manmohan Singh, today called for strengthening the "knowledge base" by focusing on "brain power" of the country, while launching the Knowledge Commission here. The Prime Minister emphasised the need to improve access and ... More

EXPORTS & IMPORTS

Kerala to export procured pepper
THE State Government has asked the State Cooperative Marketing Federation (Marketfed) not to sell the pepper procured from the farmers in the domestic market. The Chief Minister, Mr Oommen Chandy, said in the State Assembly on Tuesday that the ... More

NATURAL CALAMITIES

REL announces Rs 100-cr disaster management plan — To restore supply within 24 hours
RELIANCE Energy (REL) on Tuesday announced a Rs 100-crore disaster management plan to cope with future natural calamities. The company said that it would restore power supply to all residential customers within 12 to 24 hours, and to all ... More

IA, Air India to operate normal schedules from today
AFTER a week of delays and disruptions, airline operations at Mumbai airport are limping back to normalcy. Airline officials said that they expect flight operations to return to the normal schedule in a day or two if the weather does not ... More

Even bank vaults, currency chests not spared
THOUGH banking operations returned to normalcy by Tuesday, several banks are now facing the problem of soiled currency notes and documents, as rainwater has flooded their strong rooms and safe deposit vaults. However, it is too early to put a ... More

Normalcy returns to Mumbai
A WEEK after last Tuesday's rains inundated densely populated areas in the city, killing 429 people, there are now signs of recovery. On Tuesday people reported back to work in full strength and the lifeline of Mumbai - the suburban trains - ... More

Mumbai rain claims at 10,000 for Rs 1,500 cr
THE blowout in the skies over Mumbai may have tested the prowess of the country's commercial capital to deal with a natural calamity of great magnitude. And now, the aftermath of the unprecedented downpour last week is testing the financial ... More

Rains wreak havoc — Maharashtra poultry industry in trouble
INCESSANT rains and floods in Maharashtra have caused extensive damage to the poultry industry, with Raigad, Thane and Ratnagiri districts being the worst affected. While the entire magnitude of the loss is still not clear, over half a million ... More

Kurla shopowners bear the brunt of floods
THE ghost of last Tuesday's deluge was still alive on Pipe Road at Kurla, one of the lowest-lying suburbs of the city. Three-fourths of the narrow street was in ankle-deep dirty water on Tuesday.Rotting garbage lay outside shops; a wet patch up ... More

Agriculture Board ensures supply of vegetables in Mumbai
WITH Mumbai crying itself hoarse about the non-availability of essential items, the Maharashtra State Agriculture Marketing Board (MSAMB) has put in place a steady system to provide vegetables and fruits to consumers in the city. Most of the ... More

TOURISM

Eco-tourism projects for Kollam district
KERALA'S eco-tourism department has prepared a concept paper outlining various tourism projects that could help the overall development of Chadayamangalam in Kollam district. According to a senior tourism official, all the potential projects ... More

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